LenderLive Network Inc., a provider of business process outsourcing, has partnered with the Neighborhood Housing Services of America (NHSA) to process and underwrite Federal Housing Administration (FHA) loans that the nonprofit secondary market investor plans to purchase.
LenderLive will provide the services for NHSA's Non-Supervised FHA guarantee program, which allows correspondent lenders to sell FHA loans to NHSA.
Since 1974, NHSA has collaborated with philanthropic organizations, private-sector institutional investors, government entities and its affiliate nonprofit NeighborWorks organizations to offer mortgages and lending services.
The nonprofit firm is a provider of capital in the community development arena, supporting affordable single-family and multifamily residential properties.
NHSA President Mary Lee Widener notes that the partnership with LenderLive will increase FHA lending opportunities for local originators that compete with mega-banks over market share.
Â "Through our partnership with LenderLive and our 35 years of experience, smaller originators are able to participate in a prudent and efficient way," she says.
SOURCE: LenderLive Network Inc.